UPDATE 2-Australia's Murray Goulburn considers interest from an array of suitors


* Suitors include both domestic and foreign suitors -source

* Books first annual loss, hurt by ill-fated Asian expansion (Adds quote from Murray Goulburn CEO, comment from analyst)

SYDNEY Aug 22 (Reuters) - Murray Goulburn Co-operative, Australia's largest milk processor, said on Tuesday it was considering approaches from a broad array of suitors who were interested in acquiring the cooperative as a whole or some of its assets.

The interest comes as Murray Goulburn, reeling from an ill-fated Asian expansion, reported its first annual loss since its 2015 listing.

The ad hoc nature of the approaches meant it was too early to discuss potential deals, Chief Executive Ari Mervis said on a call with analysts. The firm has told its advisor, Deutsche Bank, to seek more detailed proposals.

"We have asked Deutsche Bank to look at our holistic structure, everything is up for consideration," he said.

The interested parties include local and international investors who are offering restructuring options, a source familiar with the situation told Reuters. The source, who was not authorised to talk to the media, declined to be identified.

Murray Goulburn's cooperative structure makes a full takeover difficult as its farmer owners are expected to be resistant to losing control of the company, analysts said. But they added that the company's 10 processing plants would draw plenty of interest.

"There are three local companies, Bega Cheese , Fonterra Australia and Canada's Saputo - through its Warrnambool Cheese and Butter assets - that will all be looking at this as opportunity to expand their business," said Michael Harvey, a dairy analyst at Rabobank.

"Then you have international companies, who would be looking at these assets as an entry point."

A spokeswoman for Fonterra said the company was always looking at opportunities but does not comment on M&A discussions. Representatives for Saputo Inc and Bega Cheese Ltd did not immediately respond to requests for comment.

Shares in its listed trading entity, MG Unit Trust, was 3.6 percent higher in afternoon trade on the news of the approaches.

Murray Goulburn booked a A$370.8 million ($295 million) loss for the year ended June 30, compared with a profit of A$21.2 million a year earlier.

It also reported A$735 million in equity and net debt of A$444.5 million.

Expanding aggressively into Asia, the milk processor had sought to boost production of high-margin products such as infant formula by paying a premium to farmers for their milk.

But with sales to China disappointing, Murray Goulburn was forced to cut the price it paid suppliers by up to 20 percent, leaving many farmers with little choice but to continue producing at a loss.

($1 = 1.2606 Australian dollars) (Reporting by Colin Packham and Paulina Duran; Editing by Edwina Gibbs)